Source: Apartment Ventures
VENTURA, CA - Apartment Ventures is pleased to announce the acquisition of Ashwood Gardens, a 96-unit residential property in Ventura, California. With this addition in mid-February, Apartment Ventures completed close to $150M in transactions in Q1 2021. With two more transactions in the pipeline—one in Orange County, CA and another in the Phoenix metro area—2021 is off to a great start at Apartment Ventures.
Ashwood Gardens is a $29M+ asset well-positioned close to Ventura’s downtown area and Ventura City College, with entertainment and harbor amenities nearby. Until now, the community has been held by a single owner since its development in 1980. Structurally, the asset has been carefully maintained, and Apartment Ventures looks forward to incorporating their industry-leading renovation and management skills as part of their value-add plans over the next two years.
Ashwood Gardens property boasts two spacious unit types perfect for a growing work-from-home market, offering both 865 square feet and 1,240 square feet units, all with either a balcony or patio. The community also provides enhanced homelike amenities such as pool, club-house, billiards room, fitness center and privacy gate, within a tranquil, park-like setting.
Apartment Ventures’ ability to purchase this and other unique assets is due in large part to their established relationships within the entire multi-family community.
“As a single-owner property, Ashwood Gardens is a once-in-a-generation purchase,” says Kari Wilfong, Principal & COO at Apartment Ventures. “We’re very proud of this purchase and of all that we have accomplished so far this year. Our successful transactions are the result of deep relationships within our target regions, and we are looking forward to bringing all our experience and skills continue adding value to these already excellent communities.”